14 August 2023  |  Frankfurt

DIF’s portfolio company ruhrfibre signs EUR 120m senior debt financing

DIF Capital Partners (via its DIF CIF III fund) is pleased to announce that its portfolio company ruhrfibre has closed on a senior debt financing in support of the buildout of a large-scale fibre network in Essen (Germany), targeting around 150,000 households.

DIF announced its investment in ruhrfibre in November 2022, alongside project developer metrofibre and the City of Essen. The project is a game changer to the city in the industrial Ruhr-area in terms of its economic advancement and will accelerate Essen’s development into a smart city.

The financing package comprises senior loans totalling EUR 120m that are provided by a club of senior lenders comprising ING, Kommunalkredit Austria and SEB. There is a further uncommitted accordion facility of EUR 40m to expand the financing. The facilities are structured as a green loan with a dedicated green use of proceed for the financing of climate friendly broadband technology, and as such underpin DIF’s strong commitment to promote sustainable infrastructure.

The successful financing provides further momentum to ruhrfibre’s significant progress in bringing fibre to Essen: In June, ruhrfibre started the construction work in the first two roll-out areas in Essen. “With full financing, the project is now significantly picking up speed”, says Christopher Rautenberg, Managing Director at metrofibre and ruhrfibre. “New roll-out areas will follow in the next few months to meet our goal of connecting 150,000 households, businesses, and public institutions to the fiber-optic network.”  DIF and ruhrfibre were advised by ING, Hogan Lovells, Arthur D. Little and Riskbridge. The lenders were advised by White & Case.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with ca. EUR 17 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 225 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu

Contact DIF Capital Partners: press@dif.eu

4 August 2022  |  Frankfurt

DIF Capital Partners divests its 45% equity stake in German hospital PPP UKSH

DIF Capital Partners (“DIF”), through its fund DIF Infrastructure III, is pleased to announce that the closing of the divestment of its indirect 45% ownership stake in the University Hospital Schleswig Holstein’s (“UKSH”) PPP project to current co-shareholder Invesis took place today. The UKSH PPP focuses on the construction, renovation and maintenance of one of Europe’s largest centres for medical care at its locations in Kiel and Lübeck in Germany.

DIF originally invested in the UKSH PPP project in 2014, alongside current co-shareholders Invesis and VAMED Deutschland Holding GmbH (“VAMED”). DIF is proud to have been part of this landmark PPP project in Germany, which is delivering state of the art hospital facilities to one of the largest hospitals in Europe. The opening of the newly constructed facilities in Lübeck and Kiel in 2019 marked an important milestone in the Project and shows the parties’ track record in successfully delivering complex infrastructure projects.

Herbert Smith Freehills provided legal advice and Reed Smith provided tax advice to DIF.

About UKSH

The University Hospital Schleswig-Holstein with locations in Kiel and Lübeck in Northern Germany is one of the largest medical care centres in Europe. With currently 14,000 employees in over 89 clinics and institutes, UKSH is the largest employer and training provider in the German State Schleswig-Holstein.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

8 March 2022  |  Schiphol

Keynote Interview Wim Blaasse in Annual Review Infrastructure Investor 2022

Infrastructure as an asset class has grown very quickly in the past years and opportunities for growth remain significant.

In the 2022 edition of the Infrastructure Investor Annual Review DIF Managing Partner Wim Blaasse explains why infrastructure as an asset class is so attractive, what’s the DIF approach towards tapping opportunities in the midmarket segment of the global infrastructure market and what’s his outlook for 2022 and beyond.

To read the complete article open Keynote Interview Wim Blaasse – Infrastructure Investor Annual Review (March 2022)

23 December 2021  |  London

DIF Capital Partners reaches financial close on Goldsmiths, UK student accommodation PPP

DIF Capital Partners (“DIF”) is pleased to announce that it has closed the acquisition of a 90% stake in the Goldsmiths, University of London, student accommodation PPP. This project was acquired from a fund advised by Arlington Advisors, a UK based investment manager and student housing specialist. The investment will be made by DIF Infrastructure V. The remaining 10% stake is owned by Campus Living Villages, one of the world’s leading on-campus student accommodation owner operators which will continue operating and maintaining the asset.

The project is a volume-based PPP that has been operational in its current form since 2017. It comprises 469 beds across three buildings, communal spaces and an orangery. The project is operated under a 50 year concession signed in 2015. The buildings are all located within ca. 1 mile of the Goldsmiths’ campus in south-east London.

Gijs Voskuyl, Partner and Head of Investments for the DIF V and VI strategy, says: “Further to the recent financial close on LSE student accommodation PPP, DIF is excited to add another student accommodation asset to its portfolio. We look forward to partnering with a high profile higher education institution and working alongside a global leader in on-campus student accommodation”.

DIF was advised by Addleshaw Goddard (legal), AECOM (technical) and JLL (commercial), Grant Thornton (tax & accounting) and EY (financial).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

 

More information:

Jorda Zuurendonk, Marketing & Communication Manager

j.zuurendonk@dif.eu

17 December 2021  |  London

DIF Capital Partners reaches financial close on UK student accommodation PPP

DIF Capital Partners (“DIF”) is pleased to announce that it has reached financial close on the London School of Economics & Political Science student accommodation PPP located in London. The deal will be transacted through DIF Infrastructure V. DIF has a 80.1% stake in the project, with the university retaining the remaining 19.9% stake.

The project is a greenfield PPP that includes the design, build, financing, operations and maintenance of new student accommodation facilities that comprise 676 beds, communal spaces, a gym, three roof terraces, a cinema room and two courtyard gardens.

Design, build, operations and maintenance will be completed by Engie Regeneration, which is a subsidiary of Equans, a global contractor in the utility, industry and infrastructure sectors. Long-dated funding has been provided by Pension Insurance Corporation, which is a UK-based specialist insurer of defined benefit pension funds.

Gijs Voskuyl, Partner and Head of Investments for the DIF V and VI strategy, says: “DIF is excited to be growing its portfolio in the student accommodation sector. We look forward to partnering with a world-class university and to support it with its student accommodation delivery”.

Ian Spencer, LSE Director of Residential Services: “One of the priorities in LSE’s 2030 strategy is to Develop the LSE for Everyone. For Residential Services this means guaranteeing an offer of accommodation to all first-year students. The Glengall Rd development takes us a significant step towards that goal by providing 676 affordable rooms for our graduate students”.

QMPF provided the School with financial and commercial advice throughout the process, the School’s legal advisers, Pinsent Masons, provided legal advice and Student First Group advised on the design, build and operation of the new halls.

DIF was advised by DWPF (financial), Centrus (debt arranger), Mills & Reeve (legal), Grant Thornton (tax & accounting), Gleeds (technical) and JLL (commercial).

About DIF Capital Partners
DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

 

More information

Thijs Verburg, IR & BD

t.verburg@dif.eu

9 August 2021  |  Toronto

DIF Capital Partners signs agreement with Canada Infrastructure Bank for further investments in rural Manitoba in partnership with Valley Fiber

DIF Capital Partners (“DIF”), is pleased to announce that DIF Core Infrastructure Fund II (“DIF CIF II”) and its portfolio company Valley Fiber Ltd. (“Valley Fiber”) have formalized the agreement to invest in the Manitoba Fiber Project together with the Canada Infrastructure Bank (“CIB”). This agreement will significantly grow DIF CIF II’s investment in Manitoban rural communities and Valley Fiber.

Valley Fiber is a telecommunications infrastructure company and internet services provider that specializes in the development, construction, and operations of fiber and fixed wireless infrastructure for residential and commercial use. Valley Fiber was incorporated in 2016 and has successfully built a presence in Manitoba, constructing high-quality telecommunications infrastructure to service historically underserved rural Manitoban communities. Based in Winkler, Manitoba, Valley Fiber operates in more than 20 municipalities.

In April 2020, DIF CIF II completed a majority investment into Valley Fiber. Since this investment, Valley Fiber has expanded and enhanced its product offering and further grown its geographical footprint. The agreement with CIB will enable a broadband infrastructure project that supports the economic growth for the benefit of Canadians. Furthermore, this project will expand Valley Fiber’s reach by targeting to connect 48,500 households with dedicated fiber-to-the-home in Manitoban rural municipalities over the coming years.

Willem Jansonius, Head of DIF CIF, said: “The collaboration with Valley Fiber and CIB have proven to be very successful and this investment represents our next step into the fast-growing telecom infrastructure sector.”

In addition, DIF CIF II has extended its capital commitment to Valley Fiber to fund future organic growth and add-on opportunities in the near term. Valley Fiber and DIF are committed to the partnership of bringing broadband to underserved communities in Canada.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney, and Toronto. For further information please visit www.dif.eu

Contact:

Allard Ruijs, Partner

Email: a.ruijs@dif.eu